Print Article

CryptoQueen and Associate managed to sell Dubai properties after being charged.



  • One of the biggest fraud scandals in history was over OneCoin, a digital asset marketed as the successor to Bitcoin, which turned out to be a pyramid scheme. The alleged mastermind behind this massive scam, which cost investors a staggering $4 billion, was Ruja Ignatova, also known as the CryptoQueen.
  • Ignatova is the alleged mastermind behind the massive OneCoin crypto scam, which is linked to a $4 billion pyramid scheme with more than 3.5 million victims around the world.
  • She disappeared in 2018 shortly after U.S. authorities issued a warrant for her arrest.
  • Frank Schneider, a former Luxembourg intelligence officer, allegedly aided in “evading law enforcement investigations” and helped in “managing the scheme’s proceeds,” according to a U.S. indictment against him.
  • When he escaped, Schneider was under house arrest in France, battling extradition to the U.S.. His current whereabouts are unknown.
  • Despite being charged, they managed to liquidate their Dubai assets. This includes:-
    • Ignatova’s Dubai penthouse apartment, which was sold in late 2019, two years after her OneCoin cryptocurrency fraud collapsed.
    • Schneider also sold his apartment for $2.3 million in January 2022
  • This case raises questions over Dubai’s enforcement of anti-money laundering rules. The leaked Dubai property records show that Ignatova and Schneider’s properties were sold after they had already been charged with criminal offences following OneCoin’s collapse.
  • Ignatova has been on the run ever since U.S. authorities began to pursue her in 2017. Her whereabouts are unknown.

💡 Key Finding:   

In this investigation, OCCRP reveal

  • That Ignatova and her security adviser, Frank Schneider, were able to liquidate Dubai assets despite being charged in the U.S. for their alleged roles in the OneCoin scandal.
  • Ignatova’s penthouse apartment was sold in late 2019, two years after the OneCoin cryptocurrency collapsed, leading to U.S. charges against her.


>> Read the Full Story <<


The Team

Meet the team of industry experts behind Comsure

Find out more

Latest News

Keep up to date with the very latest news from Comsure

Find out more


View our latest imagery from our news and work

Find out more


Think we can help you and your business? Chat to us today

Get In Touch

News Disclaimer

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email